Loop Capital Issues Positive Forecast for Best Buy (NYSE:BBY) Stock Price

Best Buy (NYSE:BBY) had its target price boosted by Loop Capital from $80.00 to $85.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the technology retailer’s stock. Loop Capital’s target price indicates a potential upside of 4.68% from the company’s current price.

A number of other equities research analysts have also recently weighed in on BBY. Morgan Stanley raised their price target on Best Buy from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday. Evercore ISI lifted their price objective on Best Buy from $80.00 to $85.00 and gave the stock an “in-line” rating in a research report on Wednesday. Barclays set a $81.00 price target on shares of Best Buy in a research report on Tuesday. UBS Group set a $96.00 price objective on shares of Best Buy in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and an average price target of $84.12.

Best Buy Stock Performance

NYSE:BBY opened at $81.20 on Tuesday. Best Buy has a 52-week low of $54.99 and a 52-week high of $91.72. The company has a market cap of $17.06 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.21 and a beta of 1.25. The firm’s 50-day moving average is $77.56 and its 200-day moving average is $73.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities research analysts anticipate that Best Buy will post 6.18 earnings per share for the current year.

Insider Activity

In related news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the completion of the transaction, the chairman owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the sale, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,736,826 shares of company stock worth $141,568,327 over the last 90 days. 0.47% of the stock is owned by company insiders.

Institutional Trading of Best Buy

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its position in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 138 shares during the last quarter. Palisade Asset Management LLC bought a new stake in Best Buy in the 3rd quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Best Buy in the 2nd quarter valued at $26,000. Root Financial Partners LLC bought a new position in Best Buy during the 3rd quarter worth $32,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Best Buy during the second quarter worth $33,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.